Tier3 Technologies, an IT services provider, will relocate and expand its headquarters in Louisville, Kentucky. The company plans to invest more than $2.4 million and is expected to create 62 full-time jobs.
According to Governor Matt Bevin’s Office Tier3 plans to relocate within the city, though the site is still to be determined. Tier3’s investment also includes the purchase and installation of new equipment.
“Tier3 is enthusiastic about the Global Managed Services opportunity to provide our ESP Software globally and make Kentucky the focus of our workforce expansion as we expand further into predictive/big data analytics by utilizing artificial intelligence and experience,” said William F. Paynter, the company’s Vice President.
“Tier3 is a technology firm but we are only as strong as our engineering teams and workforce. Our goal is to partner with Kentucky and higher education to drive workforce change to develop, keep and attract smart people to be a part of our team for the future of IT as the workforce begins to transform and pass the baton to the next generation,” he said.
“We are no different than UPS or Amazon in their decision process to put world hubs in Kentucky,” Paynter added. “They bring packages and we bring global knowledge and people to fulfill a global skills gap. The bottom line is IT engineering positions are too costly in California, and middle America is cost efficient and the market opportunity and timing is right.”
To encourage the investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) on Thursday preliminarily approved the company for tax incentives up to $700,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the agreement term through corporate income tax credits and wage assessments by meeting job and investment targets.
“Kentucky’s information technology sector has experienced steady growth in recent years, and we are pleased to see another local company planning an expansion right here in the commonwealth,” Governor Matt Bevin said. “Tier3 Technologies’ decision to significantly enhance their operations in Louisville is further endorsement of our strong workforce and thriving business environment. We are proud that the Bluegrass State is becoming increasingly fertile ground for cutting-edge technology commerce.”